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- HYPE remains under seller control despite a notable whale withdrawal.
- XRP is seeing steady institutional accumulation through ETF inflows.
- Both assets show that flows alone don’t guarantee immediate price moves.
Hyperliquid’s HYPE token and XRP are sending sharply different signals to the market. On one side, HYPE continues to weaken under renewed selling pressure despite a notable whale withdrawal. On the other, XRP is quietly attracting institutional capital through ETF inflows, even as its price remains stuck in a corrective structure. Together, the two assets highlight the gap between positioning and price action in today’s crypto market.
HYPE: Whale Withdrawal Fails to Shift Sentiment
Dragonfly Capital’s recent withdrawal of nearly 26,000 HYPE tokens from Bybit — worth around $650,000 — initially drew attention as a possible confidence signal. However, the move appears more tactical than bullish. Large entities often reposition assets for custody or flexibility, and in this case, broader market behavior failed to confirm accumulation.
Spot flows tell the real story. After a brief session of net outflows, HYPE quickly flipped back to net inflows, signaling that tokens are returning to exchanges. That shift usually points to renewed selling intent. Price action has followed suit, with HYPE unable to stabilize and continuing to drift lower.
Bearish Structure Tightens on HYPE
Technically, HYPE’s rejection at the $28 resistance reinforced seller dominance. The price is now leaning on the $25 support zone, which looks increasingly fragile. If that level gives way, downside targets near $22 — and potentially much lower — come into view.
Trend indicators support this bearish bias. Directional metrics show sellers firmly in control, while Open Interest has dropped nearly 8%, reflecting traders closing positions rather than betting on a rebound. Liquidations remain muted, particularly on the short side, reducing the odds of a squeeze-driven recovery. For now, HYPE lacks both demand and leverage to spark a meaningful bounce.
XRP: ETF Inflows Signal Long-Term Confidence
XRP’s picture looks very different beneath the surface. A single-session Spot ETF inflow of $10.63 million pushed total ETF-held XRP assets to $1.56 billion, reinforcing steady institutional demand. Notably, this buying arrived during a corrective phase, suggesting long-term positioning rather than short-term speculation.
Exchange data supports that view. XRP has seen consistent net outflows from centralized exchanges, tightening liquid supply. While price has yet to respond decisively, these flows often act as a stabilizing force rather than an immediate rally trigger.
Despite accumulation, XRP remains confined within a descending channel. Buyers continue to defend the lower boundary near $2.05–$2.10, but sellers cap advances closer to $2.35–$2.65. Momentum indicators show stabilization, not breakout conditions.
Also Read: HyperLiquid Cracks Down on Insider Trading as HYPE Slumps 58%
On-chain metrics add caution. A rising NVT ratio suggests valuation is running ahead of transaction activity, reinforcing a consolidation narrative. Cooling funding rates further point to a leverage reset rather than aggressive bullish positioning.
HYPE and XRP illustrate two very different market states. HYPE faces active distribution, weak structure, and fading speculative interest, leaving it vulnerable to further downside. XRP, meanwhile, is quietly being accumulated by institutions, even as technical structure delays any breakout. Until price confirms direction, conviction alone — bullish or bearish — remains incomplete.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
